February 11, 2015 / 1:08 PM / 5 years ago

Britain's markets watchdog says investigating 67 fund managers

A maintenance worker cleans the entrance area of the headquarters of the new Financial Conduct Authority (FCA) in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

LONDON (Reuters) - Britain’s markets watchdog is investigating 67 fund managers or individuals for a range of alleged offences, it said in an e-mail on Wednesday.

The investigation includes areas such as financial crime, market abuse and mis-selling, according to the Financial Conduct Authority.

The regulator released the data for firms and individuals who fall within the Alternative Investment Fund Managers Directive (AIFMD) and as of Jan. 26 in response to a Freedom of Information request by trade publication HFM, a copy of which it shared with Reuters.

AIFMD compliant managers include firms such as hedge funds, private equity and real estate fund managers.

UK authorities have been cracking down on market abuse, systems and control failures and loose practices in the financial services industry in an attempt to restore public faith in an industry widely blamed for sowing the seeds of the financial crisis.

The regulatory crackdown has led to convictions of fund executives such as Julian Rifat, a former trader at U.S. hedge fund Moore Capital, and Magnus Peterson, the former boss of failed hedge fund Weavering who was sent to jail for 13 years by a London court last month.

Reporting by Nishant Kumar; editing by Simon Jessop and David Evans

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